Hyundai Motor Co. on Thursday named Jose Munoz as the next president and CEO of the South Korean automaker, effective Jan. 1.

Hyundai Motor named Jose Munoz, current U.S. chief and global chief operating officer, as its new chief executive officer on Friday, marking a rare appointment of a foreign national to the top post at a major South Korean conglomerate.

Hyundai Motor appointed Jose Munoz as its new president and chief executive, making him the first non-Korean leader of the auto giant.

Hyundai Motor Co. named Jose Munoz as chief executive officer, making him the first foreigner to lead the South Korean automaker as it seeks to grow outside its home country.

Hyundai Motor will name Jose Munoz, the current global chief operating officer, as its new chief executive officer later on Friday, a news report said, citing unnamed industry sources. If confirmed, it will be a rare appointment of a foreign national to the top post of a major conglomerate in South Korea,

Jose Muñoz, COO of Hyundai Motor Co. and CEO of Hyundai and Genesis Motor North America, will step into the top position at the global automaker at the start of the new year.